The changes in the Income Tax of the fourth category that will be in force as from July will imply an additional disposable income for workers of 50 billion pesos ($525 mn). The data, released by AFIP, consider what will stop withholding income tax to 1.2 million people during the second half of 2021 and what will return it to them in five instalments of everything withheld from January until today. The Government expects to release 8 billion pesos ($84 mn) to the economy in July.
Encouraged by the international prices, Argentine producers sell corn of the 2020/21 season, which is currently in the harvest stage. Official data show that producers sold already 29.7 million tons in the first week of June, translating into 59% of the estimated 50 million tons of the campaign. According to agro-exporting companies, the sector liquidated a little over $13.5 billion in the first five months of the year.
The Arcor Group announced an investment of 20 million dollars to start a new packaging plant in Misiones. The facility, which will have an annual production capacity of 80 million multiwall bags, will start operations in the first quarter of 2022 and respond to the new requirements and the evolution of the construction, food, chemical and seed markets.
The chemical and petrochemical industry continues to show signs of greater dynamism in 2021. According to a report prepared by the sector's chamber, activity grew 8% in May concerning April and 5% for March.